Published: 2024-11-07T01:12:34.000Z
Chart USD/JPY Update: Extending gains
Technical Analyst
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Turned up sharply from 151.28 low with break above the 153.88 high of last week extending the broader gains from the September low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 157.00/20 | * | congestion | S1 | 154.00 | * | congestion | |
| R3 | 156.65 | * | 76.4% Jul/Sep fall | S2 | 153.19 | * | 23 Oct high | |
| R2 | 156.00 | * | congestion | S3 | 152.00 | ** | congestion | |
| R1 | 155.22 | * | 30 Jul high | S4 | 151.28 | ** | 6 Nov low |
Asterisk denotes strength of level
01:05 GMT - Turned up sharply from 151.28 low with break above the 153.88 high of last week extending the broader gains from the September low. Bullish outside range opens up further gains and see room to the 155.00/22 resistance. Beyond this will see scope to the 156.00 congestion then the 156.65, 76.4% Fibonacci retracement. Meanwhile, support is raised to the 154.00 level which extend to the 153.19 recent high. This area expected is underpin while failure here will open up strong support at the 152.00 congestion and 151.28 low to retest.